JAMB and WAEC Commerce questions

611 questions with answers and explanations. Tap an option to check yourself.

1. Question 361· Forms of business organisation· JAMB

   Commercialisation of a public corporation means

   • Aselling it entirely
   • Brunning it on profit-making lines while government keeps ownership
   • Cclosing it
   • Dhanding it to cooperatives

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2. Question 362· Forms of business organisation· JAMB

   The liability of a shareholder in a company limited by shares is limited to

   • Ahis personal property
   • Bthe directors' salaries
   • Call the company's debts
   • Dthe amount unpaid on his shares

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3. Question 363· Forms of business organisation· WAEC

   A sleeping partner

   • Aruns the business without contributing capital
   • Bcontributes capital but takes no part in running the business
   • Cis a minor
   • Dis a creditor

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4. Question 364· Forms of business organisation· WAEC

   The main aim of a public corporation is to

   • Aprovide essential services to the public
   • Bmake maximum profit for shareholders
   • Ccompete on the stock exchange
   • Dbenefit its manager

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5. Question 365· Home trade: retail and wholesale· WAEC

   A wholesaler buys goods in bulk from manufacturers and sells them to

   • Aretailers
   • Bmanufacturers
   • Cforeign buyers only
   • Dthe government only

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6. Question 366· Home trade: retail and wholesale· WAEC

   A supermarket operates mainly on the principle of

   • Acredit only
   • Bself-service
   • Chawking
   • Dbarter

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7. Question 367· Home trade: retail and wholesale· WAEC

   Hire purchase allows a buyer to

   • Aown goods at once without paying
   • Btake goods after a deposit and pay the rest in instalments
   • Crent goods forever
   • Dbuy only for cash

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8. Question 368· Home trade: retail and wholesale· WAEC

   A reason the wholesaler may be eliminated is that

   • Amanufacturers lack goods
   • Bretailers buy in small quantities
   • Cconsumers prefer middlemen
   • Dlarge retailers buy directly from manufacturers

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9. Question 369· Home trade: retail and wholesale· JAMB

   A trader who buys goods in bulk from manufacturers and sells in smaller quantities to retailers is a

   • Abroker
   • Bconsumer
   • Cwholesaler
   • Dfactor

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10. Question 370· Home trade: retail and wholesale· JAMB

    Chain stores that sell the same kind of goods in many towns under one owner are also called

    • Amultiple shops
    • Bdepartment stores
    • Cmail-order houses
    • Dtied shops

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11. Question 371· Home trade: retail and wholesale· JAMB

    Cash discount is given mainly to encourage

    • Atrade between dealers
    • Bbulk buying
    • Cprompt payment
    • Dadvertising

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12. Question 372· Home trade: retail and wholesale· WAEC

    Hawking is a form of

    • Amail order
    • Bwholesale trading
    • Cforeign trade
    • Ditinerant trading

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13. Question 373· Home trade: retail and wholesale· JAMB

    A wholesaler performs the function of

    • Abreaking bulk
    • Bmanufacturing
    • Cmining
    • Dextracting

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14. Question 374· Home trade: retail and wholesale· JAMB

    A trader buys goods listed at ₦40,000 less 10% trade discount. How much does he pay?

    • A₦40,000
    • B₦44,000
    • C₦4,000
    • D₦36,000

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15. Question 375· Home trade: retail and wholesale· JAMB

    The elimination of the wholesaler is most likely when

    • Athe manufacturer owns retail outlets or sells online directly
    • Bgoods are produced far from consumers
    • Cgoods are bulky and sold in small quantities
    • Dretailers have little capital

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16. Question 376· Home trade: retail and wholesale· JAMB

    Which of these is a service rendered by the wholesaler to the manufacturer?

    • ABreaking bulk for final consumers
    • BDisplaying goods in a shop window
    • CGiving consumers credit
    • DBuying in large quantities and relieving him of storage

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17. Question 377· Home trade: retail and wholesale· WAEC

    A middleman who buys in bulk from manufacturers and sells to retailers is a

    • Abanker
    • Bconsumer
    • Chawker
    • Dwholesaler

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18. Question 378· Home trade: retail and wholesale· JAMB

    Which of these is a function of the retailer to the consumer?

    • ABreaking bulk into small quantities
    • BFinancing the manufacturer
    • CWarehousing for the producer
    • DAdvertising for the wholesaler

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19. Question 379· Home trade: retail and wholesale· WAEC

    A trader who buys in large quantities from manufacturers and sells in smaller quantities to retailers is a

    • Aconsumer
    • Bwholesaler
    • Chawker
    • Dproducer

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20. Question 380· Home trade: retail and wholesale· JAMB

    A disadvantage of the small-scale retailer is

    • Aflexible opening hours
    • Bpersonal contact with customers
    • Climited capital
    • Dgiving credit to known customers

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